Bank of Ceylon ranked among top 1000 banks in the world
View(s):Bank of Ceylon (BoC) said this week it has created history by being ranked among the top five banks in the Asia-Pacific Region (excluding China and Japan) in terms of Return on Capital by ‘The Banker” magazine becoming the first Sri Lankan bank to achieve such a performance ranking from an internationally recognised entity.
This comes at a time when the BoC has yet again been ranked among the top 1000 banks in the world, and with a country rank of No.1, ahead of all other Sri Lankan banks also by the same UK-based magazine. ”The story of Bank of Ceylon’s entry into the Top 1000 Banks in the World begins in 1997 when it entered the Top 1000. It was to take more than 10 years before any other Sri Lankan bank could enter these leagues. By the year 2000 other local banks were being rated among the top 1000-2000 banks but with a rank close to the mid point of the 1000 to 2000 range. Bank of Ceylon continued to be ranked among the Top 1000 up to 2001,” according to a BoC media release.
By this time other banks in the region such as those in India, Indonesia, China and the rest of world were growing much faster than Sri Lankan banks which bore the burden of the ongoing conflict in the North and East. Bank of Ceylon re-emerged in 2012 and, as usual, ahead of all other Sri Lankan banks and has continued in the top 1000 ever since, it said.
BoC Chairman (President’s Counsel) Ronald C. Perera said the “Bank of Ceylon proudly accepts these achievements of being able to strengthen banks presence among top 1000 Banks in the world with the No.1 country ranking despite the challenging global and local financial environment”.
BoC General Manager D.M. Gunasekara said “We have initiated several projects with Boston Consultancy Group (BCG) to transform the bank’s operations and processes to come up with more elegant and comfortable banking to delight our customers whilst providing the best ROI ( return on investment) for our main stakeholder”.